Macro economics
The Number of Rich People in Hong Kong Declines due to the Trade War
After taking over the position of New York as the city with the world's largest rich population in 2017, Hong Kong must be willing to fall into fourth position because the number of wealthy people in the city decreased by more than 11 percent, from 440,000 individuals to 391,595 individuals.
Based on research conducted by Wealth-X, the correction of the capital markets of Hong Kong and China due to the trade wars of China and the United States were the main reasons for the fall of Hong Kong's position as the city with the largest rich population in the world.
There are at least 391,595 rich people or individuals with a total wealth of more than US $ 1 million in Hong Kong, or half of the number of super rich people in the United States.
In fact, the positive global financial market movements throughout 2017 have pushed Hong Kong beyond New York because it managed to increase the number of people rich by 31 percent for one year.
As for New York, it returned to the first position despite experiencing a shrinkage of the super-rich population by 0.6 percent, with fewer than one million individuals.
The second position was occupied by Tokyo which surpassed Los Angeles, although it recorded a sharp decline in the population, or by 3.3 percent compared to the previous year.
London and Paris are representations of Europe in the top 10 cities with the largest population of rich people in the world. Both are countries with a rich population concentrated in the capital city, different from the distribution patterns of rich people who tend to spread across regions such as Germany.
Here are 10 cities in the world with the largest population of rich people:
1. New York 978,810 individuals
2. Tokyo 593,025 individuals
3. Los Angeles 576,255 individuals
4. Hong Kong 391,595 individuals
5. London 372,270 individuals
6. Chicago 353,775 individuals
7. Paris 345,175 individuals
8. San Francisco 314,055 individuals
9. Washington DC 301,495 individuals
10. Dallas 298,220 individuals
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